22nd June 2018
88 Energy Limited
Operations Update
88 Energy Limited (ASX: 88E) (“88 Energy” or the “Company”) is pleased to announce the following update for its projects located on the North Slope of Alaska.
Highlights
• Nitrogen lift continues at Icewine#2
Project Icewine – Icewine#2 Production Testing
As at 1730 21st June (AK time), the flowback rate was 50 barrels of water per day on a variable choke setting (currently 36/64”). Wellhead pressure has been managed lower to 75psi to reduce back pressure in the system.
Since the last update on the 18th June, adjustments were made to the flowback system to determine the optimal settings for the nitrogen lift operation. Consequently, flowback rates fluctuated between an average rate of 50 barrels of water per day to 120 barrels of water per day. The percentage of hydrocarbon gas in the flowback dropped to 5% at one stage due to an increased nitrogen injection rate, 300 scf/m, which is deemed to have limited the flowback of both water and gas from the borehole. The reduction in productivity is attributed to an effective downhole choke created between the 4.5” annulus and the 1.75” velocity string, limiting the flowback when the nitrogen rate is too high. The nitrogen injection rate is now being reduced back to 150 scf/m and should result in an increase in flowback of water and gas from the borehole.
During this period there has been no meaningful change to the composition of the returned gas and fluid. Flowback is considered to be 100% stimulation fluid and gas.
Hydrocarbon gas content continues to be predominantly methane (90%) with some heavier elements up to trace C6+. The composition and rate is as expected for this stage of the flowback and results are considered unrepresentative of the hydrocarbon composition in the reservoir, as the well is still in clean-up phase. Salinity measurements of the flowback fluid are also not indicative of connectivity to the reservoir, as expected at this stage of clean-up.
Total clean up fluid returned, (net of diesel for freeze protection and any other fluids introduced as part of the current operation), since commencement of flowback on 12th June 2018 is 1,100 barrels interpreted as 100% stimulation fluid. Total fluid returned for the entire Icewine#2 flowback operation, including last year, is now 6,632 barrels or 24% of the frac fluid injected vs a target percentage return of at least 30%.
- Forums
- ASX - By Stock
- 88E
- Ann: Operations Update
Ann: Operations Update, page-5
-
- There are more pages in this discussion • 216 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add 88E (ASX) to my watchlist
|
|||||
Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.86M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $1.42K | 705.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
217 | 215248169 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 592228052 | 205 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
217 | 215248169 | 0.002 |
201 | 861438518 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 572228052 | 204 |
0.004 | 300265662 | 116 |
0.005 | 97152288 | 52 |
0.006 | 30494656 | 31 |
0.007 | 73691083 | 22 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
Featured News
88E (ASX) Chart |